On Friday morning we informed that there is some manipulation in the reliance stock ahead of its results.

We also expected a good Q3 results from results. Yesterday even before the opening bell we informed that RIL may go down as a profit booking is expected after a sharp up move.

As expected by us Reliance pared gains after hitting a 52-week high of Rs 954.80 in early trade. The stock hit a low of Rs 918.15 and finally closed at Rs 920. If one would have used the information provided in the wealthbull website one would have earned quite a good sum from this information. In fact one of our members thanked us as he made Rs 1.25 lakhs from the RIL contract. Remember we gave all the necessary information before the opening bell which means one could have made money without any additional information. We informed you both the top and bottom well in advance. We would try to bring out such kind of calls in our future newsletters.

What to expect from the market now?

Many analysts were confused by the candle stick formation in Nifty. In fact on 14th January there was a dark cloud cover candlestick gave these analysts courage to initiate shorts on Nifty. Similarly on 18th January a Doji was formed in Nifty daily chart and many analysts thought that it is a tiring sign so they went short on Nifty. But the market stripped their wealth as the Nifty went up sharply on both the occasions. On these days we posted that the market would move up sharply and the market responded to our calls. Wealthbull readers are always empowered with the knowledge. Right now Nifty has hit a resistance point of 6100 and we will have to check if some profit book could make it to move down. However Nifty is expected to trade in the range of 6000-6100.